New York Times Reports Strong Digital Growth but Faces Investor Skepticism

The company added 350,000 digital subscribers in Q4 2024 and achieved record revenue growth, but its stock dropped 11% due to cautious forecasts.

The New York Times gained 350,000 net digital-only subscribers in Q4 2024, marking its best quarter for digital growth since mid-2021, and ending the year with 11.43 million total subscribers.
Digital subscription revenue rose 16% year-over-year, contributing to a total quarterly revenue of $726.6 million, up 7.5% from the previous year.
Almost one-third of digital subscribers now exclusively use non-news products like Games, Cooking, and The Athletic, reflecting the company's successful bundling strategy.
The Athletic, acquired by The New York Times in 2022, turned a profit for the second consecutive quarter, with advertising revenue increasing by 16.4% year-over-year.
Despite strong financial performance, the company's stock fell 11% as its Q1 2025 subscription revenue growth forecast of 7-10% fell slightly below some analyst expectations.